The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing verhead rate is $5.25 per direct labor-hour and its total fixed manufacturing overhead is $74,000 per quarter. The only noncash item ncluded in fixed manufacturing overhead is depreciation of $18,500 per quarter. Required: 1. Prepare the company's manufacturing overhead budget for next year. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for next year. Complete this question by entering your answers in the tabs below. Prepare the company's manufacturing overhead budget for next year: Note: Round "Variable manufacturing overhead rate" answers to 2 decimal places. Yuvwell Corporation's direct labor budget for next year contained the following information: The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $5.25 per direct labor-hour and its total fixed manufacturing overhead is $74,000 per quarter. The only noncash iter included in fixed manufacturing overhead is depreciation of $18,500 per quarter. Required: 1. Prepare the company's manufacturing overhead budget for next year. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for next year. Complete this question by entering your answers in the tabs below. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for next year. Note: Round your answer to 2 decimal places